Switcheo Network, the first non-custodian cryptocurrency exchange on the NEO blockchain, has just gone live on Ethereum. The launch, also dubbed Callisto, has made Switcheo, recognized for its intuitive user interface, the first non-custodian exchange to support both NEO and Ethereum blockchains.
Unlike most non-custodian exchanges, Switcheo is allowing new traders to onboard themselves. Co-founded by traders – Ivan Poon, Henry Chua and Jack Yeu, Switcheo once began as a solution to the common problems of centralized exchanges – Security, User Anonymity and Trust.
“The rollout of Callisto is a significant milestone for us. Our users can now trade on two different blockchains while retaining ownership of their funds,” explained Poon. “They will no longer need to create trading accounts on different exchanges, thus lessening their risks of getting hacked.”
“Switcheo Exchange was built to facilitate the transfer of digital assets across different blockchains securely without a trusted third party,” says Switcheo’s Chief Executive Officer, Ivan Poon.
The exchange certainly has come a long way since their successful launch on the NEO blockchain March this year, where daily trading volume peaked at $3 million USD with over 25300 traders.
Switcheo’s integration unto Ethereum signifies the beginning to a completely new era.
“We are currently in the development phase of enabling blockchains’ interoperability to activate cross-chain trading,” shares Poon. “Because each blockchain runs on its own unique protocol and, there is no current technology that facilitate their interaction with one another.”
With no predecessors, Switcheo’s innovation will be the first of its kind in the blockchain industry. Poon further reveals that Switcheo will build a specialized blockchain to facilitate trustless cross-chain transfers in the future.
Switcheo’s evolution to cross-chain integration through building its own blockchain will ultimately put them head-to-head with larger centralized exchange, having the potential to challenge conventional financial institutions through its ability to list tokens across multiple blockchains on a single non-custodian exchange.
Following the launch, Switcheo will list over 22 new trading pairs, including tokens from notable Ethereum projects such as the stable-coin Maker (MKR), OmiseGO (OMG), Basic Attention Token (BAT) and more.
- Codebase focusing Investments on Cannabis sector and Blockchain Ventures - July 28, 2019
- Canadian City Council Enters Agreement with Coinberry to Accept Bitcoin for Tax Payments - July 19, 2019
- BitPay Processed More Than $37 Million in Bitcoin Donations Since 2017 - June 24, 2019
- Generous Donation of $120,000 in Bitcoin by Anonymous Donor Very Well Received by Bitcoin.org - May 30, 2019
- ARK Launches the ARK Deployer, an Open Source Tool to Create a Blockchain in 3 Simple Steps - May 28, 2019
- Bitbond, a Global Lending Platform, Launches STO to Support Small Businesses in Asia with Loans - May 28, 2019
- Famous Swiss Watchmaker, Franck Muller Launches the World’s First Bitcoin Watch - May 25, 2019
- Facebook’s GlobalCoin Allegedly to be introduced in 2020 - May 24, 2019
- Mobile Carrier AT&T to Accept Online Payment Options in Cryptocurrency with BitPay - May 24, 2019
- Consumers Can Now Buy Bitcoin with Cash at 2,200 Coinstar Kiosks Located Inside Grocery Stores - May 24, 2019
- Visa Token Service Acquired by Eleven New Partners for Enhanced Consumer Confidence in the E-Commerce Space - May 23, 2019
- Voyager Announces Integration of Ledger Vault’s Asset Management System into its Crypto Trading Platform - May 22, 2019
- VeganNation Welcomes Game of Thrones Actor Jerome Flynn to its Advisory Board to Unite the Vegan Community - May 21, 2019
- Huobi Honors Bitcoin Pizza Day by Selling Bitcoin 50% off Market Price & Prime 3 Launch - May 18, 2019
- Dutch Multi City Blockchain Week to be First of its Kind with Events Hosted All Over the Country - May 17, 2019
- Partnership between Travala.com and Bitcoin.com Empowers Travelers to Save on Hotel Stays and Pay Directly with Leading Cryptocurrencies - May 16, 2019
- Q2 Holdings Announces the Launch of Q2 TrustView, a new Governance and Protection Technology for Banking and Lending - May 15, 2019
- First Security Token Blockchain called Polymesh announced by Polymath at Consensus New York 2019 - May 14, 2019
- Facebook lifts Crypto Ad Ban, One Year after the Social Media Giant Banned all Ads Related to Blockchain and Cryptocurrencies - May 9, 2019
- Blockchain Becoming the Revolutionary Technology Guaranteeing High level of Privacy and Security in Emerging Markets - May 8, 2019